Cautiously Optimist on Hong Kong’s Economic Recovery: Labour & Welfare Secretary

The video discusses the severe impact of the pandemic on Hong Kong's labor market and economy, highlighting the challenges of predicting future trends. It explores the potential for economic rebound, considering social unrest and government measures like employment support schemes. The video also addresses supply chain disruptions, industry restructuring, and the widening wealth gap. Government initiatives such as cash handouts and social security systems are examined, along with strategies for economic diversification in sectors like tourism.

What was the highest unemployment rate in Hong Kong during the 2003 economic downturn?

• 5%

• 12%

• 8%

• 10%

What is the main goal of the Employment Support scheme introduced by the Hong Kong government?

• To increase taxes

• To reduce rent

• To pay 50% of staff salaries

• To close small businesses

Which company is mentioned as shifting its supply chain away from China?

• Google

• Samsung

• Apple

• Microsoft

What is one of the expected long-term changes in Hong Kong's economy due to the pandemic?

• Increase in tourism

• Decrease in technology use

• Permanent closure of all retail stores

• Restructuring of industries

What is the Gini coefficient used to measure?

• Economic growth

• Unemployment rate

• Wealth gap

• Inflation rate

What amount is the Hong Kong government planning to give as a cash handout to each adult?

• 20,000 Hong Kong dollars

• 15,000 Hong Kong dollars

• 10,000 Hong Kong dollars

• 5,000 Hong Kong dollars

What is the purpose of Hong Kong's comprehensive Social Security system?

• To reduce taxes

• To increase employment

• To support financial needs

• To provide healthcare